Wright Investors Service Inc. Sells 12,713 Shares of CSX Co. (NASDAQ:CSX)

Wright Investors Service Inc. trimmed its holdings in CSX Co. (NASDAQ:CSX) by 25.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,458 shares of the transportation company’s stock after selling 12,713 shares during the quarter. Wright Investors Service Inc.’s holdings in CSX were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. High Net Worth Advisory Group LLC grew its position in CSX by 1.7% during the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC grew its position in CSX by 1.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after purchasing an additional 304 shares during the last quarter. Cornercap Investment Counsel Inc. grew its position in CSX by 0.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after purchasing an additional 309 shares during the last quarter. Park Place Capital Corp grew its position in CSX by 12.1% during the 3rd quarter. Park Place Capital Corp now owns 3,064 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 330 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its position in CSX by 2.4% during the 3rd quarter. Astoria Portfolio Advisors LLC. now owns 14,672 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 349 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Jefferies Financial Group dropped their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a report on Thursday. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $37.22.

CSX Stock Performance

NASDAQ CSX traded up $0.67 on Thursday, reaching $34.83. 8,929,963 shares of the stock were exchanged, compared to its average volume of 11,874,633. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The firm has a market capitalization of $68.18 billion, a PE ratio of 18.91, a PEG ratio of 2.01 and a beta of 1.18. The company’s 50-day simple moving average is $36.98 and its two-hundred day simple moving average is $34.32. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the business earned $0.48 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Analysts expect that CSX Co. will post 1.97 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is presently 26.09%.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.